Market Conditions for 48111

January 2018

Median Sale Price

$226,000

UP UP 7.61%vs. Month Ago

Homes For Sale

52

DOWN DOWN -8.77%vs. Month Ago

Homes Sold

30

DOWN DOWN -14.28%vs. Month Ago

Average Days On Market

29

UP UP 11.53%vs. Month Ago

Median Sale Price

$226,000

The median sale price for homes in January was $226,000. The median sales price for homes in January rose by $16,000 compared to last month. This represents a 7.61% increase from December. Compared to the same month last year, the median price of homes rose by $43,100 representing a 23.56% year-over-year change.

The median sales price is the middle value of all sales occurring in the market during the past thirty days when you arrange these sales prices from lowest to highest. This is a better indicator than the average as the median does not change as much as a result of a few unusually low or high sales prices.

Homes for Sale

52

The inventory of homes for sale fell by 5 in January to 52. This represents 8.77% decrease from December when 57 homes were on the market.Compared to the same month last year when there were 95 homes for sale, the inventory of homes for sale has fallen by fallen by 43 representing a -45.26% year-over-year change.

Homes for sale represents the number of active listings on the market during the specified month as reported in the MLS system operating within the market area.

Homes Sold

30

The 30 homes sold in January was 5 less than in December. This represents a 14.28% decrease in sales from December. Compared to the same month last year, the number of homes sold decreased by 1, a -3.22% year-over-year decrease.

Homes sold is the total count of properties in the market area that have had a closed sale during the specified month as reported in the MLS systems operating within the market area.

Average Days on Market

29

The average days on market for a home sold in January (29) increased by 3 days compared to December. This represents a 11.53% increase in days on market for homes in the market from the previous month. Compared to the same month last year, the days on market for homes sold decreased by 14, a -32.55% year-over-year change.

Average Days on Market is the time period between the date when a home is listed for sale in an MLS system and the date it is sold.

Sale/List Price Ratio

97.35%

The Sale/List Price Ratio of 97.35% in January rose by 0.73% compared to December and increased 1.26% compared to the same period last year.

Sale/List Price Ratio is the sale price of a listing divided by the original list price expressed as a percentage. The Sale/List Price Ratio for the market is determined by adding the Sale/List Price Ratio for each listing sold in the market during the month and dividing by the number of listings sold during the month.

New Homes

33

The number of homes listed in January (33) rose by 7 compared to December, a 26.92% change. Compared to January 2017, the number of new listings decreased by 4, a -10.81% year-over-year change.

Newly Listed Homes are the total count of homes that have been listed within the market area during the most recent month, as reported in the MLS system(s) operating in the market area.

Median List Price

$219,990

The median list price in January was $219,990. The median list price for homes in January fell by ($19,460) compared to last month. This represents a 8.12% decrease from December. Compared to the same month last year, the median list price of homes increased $62,490 representing a 39.67% year-over-year increase.

The median list price is the middle value of all currently active listings as reported in the MLS systems in the market area when you arrange these list prices from lowest to highest. This is a better indicator than the average as the median does not change as much as a result of the existence of a few unusually low or high list prices.

IMPORTANT! PLEASE READ CAREFULLYTHE ACCURACY OF ALL INFORMATION, REGARDLESS OF SOURCE, IS NOT GUARANTEED OR WARRANTED. ALL INFORMATION SHOULD BE INDEPENDENTLY VERIFIED. Sold listing data is not available from all Multiple Listing Services.